IFM Investors Pty Ltd Sells 13,616 Shares of Conagra Brands, Inc. (NYSE:CAG)

IFM Investors Pty Ltd trimmed its stake in Conagra Brands, Inc. (NYSE:CAG) by 12.7% during the 1st quarter, Holdings Channel reports. The firm owned 93,665 shares of the company’s stock after selling 13,616 shares during the quarter. IFM Investors Pty Ltd’s holdings in Conagra Brands were worth $2,776,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of CAG. CWM LLC boosted its position in Conagra Brands by 18.7% during the third quarter. CWM LLC now owns 19,395 shares of the company’s stock valued at $532,000 after buying an additional 3,053 shares during the period. Ronald Blue Trust Inc. increased its stake in shares of Conagra Brands by 134.5% in the third quarter. Ronald Blue Trust Inc. now owns 1,494 shares of the company’s stock worth $41,000 after buying an additional 857 shares during the period. SG Americas Securities LLC raised its holdings in Conagra Brands by 203.5% during the 3rd quarter. SG Americas Securities LLC now owns 100,733 shares of the company’s stock valued at $2,762,000 after buying an additional 67,543 shares during the last quarter. Exchange Traded Concepts LLC boosted its position in Conagra Brands by 8.6% during the 3rd quarter. Exchange Traded Concepts LLC now owns 18,546 shares of the company’s stock valued at $509,000 after buying an additional 1,474 shares during the period. Finally, Private Trust Co. NA grew its holdings in Conagra Brands by 5.1% in the 3rd quarter. Private Trust Co. NA now owns 11,373 shares of the company’s stock worth $312,000 after acquiring an additional 557 shares during the last quarter. 83.75% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Wells Fargo & Company increased their target price on shares of Conagra Brands from $30.00 to $32.00 and gave the stock an “equal weight” rating in a report on Friday, April 5th. Royal Bank of Canada cut their price objective on Conagra Brands from $32.00 to $30.00 and set a “sector perform” rating on the stock in a research report on Wednesday, January 3rd. Stifel Nicolaus boosted their target price on Conagra Brands from $29.00 to $32.00 and gave the company a “hold” rating in a research note on Friday, April 5th. Citigroup raised their price target on Conagra Brands from $30.00 to $32.00 and gave the stock a “neutral” rating in a research note on Friday, April 5th. Finally, Barclays raised their price objective on shares of Conagra Brands from $31.00 to $34.00 and gave the stock an “overweight” rating in a report on Monday, April 8th. Ten equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat, Conagra Brands currently has a consensus rating of “Hold” and an average price target of $33.14.

Conagra Brands Stock Down 0.6 %

Conagra Brands stock traded down $0.19 during mid-day trading on Friday, reaching $31.08. The stock had a trading volume of 3,322,417 shares, compared to its average volume of 5,524,899. The company has a market capitalization of $14.86 billion, a price-to-earnings ratio of 15.61, a PEG ratio of 3.14 and a beta of 0.42. The company has a debt-to-equity ratio of 0.81, a current ratio of 0.95 and a quick ratio of 0.33. Conagra Brands, Inc. has a one year low of $25.16 and a one year high of $38.73. The company has a 50-day moving average price of $29.23 and a two-hundred day moving average price of $28.67.

Conagra Brands (NYSE:CAG) last issued its earnings results on Thursday, April 4th. The company reported $0.69 EPS for the quarter, beating the consensus estimate of $0.64 by $0.05. Conagra Brands had a return on equity of 14.25% and a net margin of 7.86%. The business had revenue of $3.03 billion for the quarter, compared to the consensus estimate of $3.01 billion. During the same period last year, the business posted $0.76 EPS. The company’s revenue was down 1.7% compared to the same quarter last year. On average, analysts expect that Conagra Brands, Inc. will post 2.62 EPS for the current fiscal year.

Conagra Brands Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 30th. Shareholders of record on Tuesday, April 30th will be paid a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 4.50%. The ex-dividend date is Monday, April 29th. Conagra Brands’s dividend payout ratio is currently 70.35%.

Conagra Brands Company Profile

Conagra Brands, Inc, together with its subsidiaries, operates as a consumer packaged goods food company primarily in the United States. The company operates through Grocery & Snacks, Refrigerated & Frozen, International, and Foodservice segments. The Grocery & Snacks segment primarily offers shelf stable food products through various retail channels.